A brokerage account is an investment account that an investor has with a brokerage firm through which the investor can buy and sell securities, such as stocks and options, and other products. Currently, an investor/client with a brokerage account is typically charged commissions for equities, options and certain other transactions on a trade-by-trade basis.
Another option for an investor is to use an investment advisory account. In such an account, the client typically pays a quarterly fee in advance based upon the client's assets under management, which is irrespective of the number of transactions.